Posts

Can China go net-zero? Two charts show just how ambitious Xi Jinping’s goal is

 


Highlights

  • Chinese President Xi Jinping has announced that his country aims to reach peak carbon emissions before 2030 and become carbon-neutral by 2060
  • A newly released blueprint for the country’s energy transition was created by the Tsinghua University’s Institute of Energy, Environment, and Economy
  • To reach their carbon neutrality goals, there will be a projected 587% increase in solar energy generation between 2025 and 2060
  • Many are skeptical that China will reach their goals by 2060 as coal-fired electricity won’t be phased out until around 2050
  • Coal, oil, and natural gas would still be generating about 13 percent of the country’s energy in their new plan

Image from Grist

  • China would still emit 200 million tons of CO2, nearly 3% of the United States’ carbon emissions in 2018

Scientists are increasingly warning that to avoid catastrophic impacts from climate change, the world’s governments must implement massive reductions of warming emissions and begin a drawdown of greenhouse gases (GHG) from the atmosphere over the decade ahead.  For a safe and healthy future for all, endorse the Climate-Safe California Platform to implement scalable solutions that can reverse the climate crisis.


Read More: https://grist.org/climate/can-china-go-net-zero-two-charts-show-just-how-ambitious-xi-jinpings-goal-is/

COVID-19

Fact check: The coronavirus pandemic isn’t slowing climate change

by Matthew Brown, USA Today


Highlights

  • The shelter in place measures spurred by the COVID-19 pandemic resulted in a drop of emissions, but this drop was not significant enough to significantly slow climate change
  • Although The International Energy Agency projects global carbon emissions will fall by 8%, this year is set to be the hottest year ever on record
  • Alex Hall, a professor of atmospheric and oceanic sciences at UCLA, explains that the environmental effects of the pandemic will not have lasting effects:

“Because changes in the climate are the result of decades of accumulating greenhouse gases in the atmosphere, one year of slightly falling emissions will not counter long-term effects.”

  • Carbon sequestration is important because the atmospheric concentration of CO2 has been building up for years and will take longer to return to normal levels
  • Emissions reductions due to the pandemic are not sustainable because they are the result of an economic disaster and will ultimately rise again once the economy stabilizes

Increased air pollution from fires and fossil fuel emissions makes all of us more vulnerable to the current COVID-19 pandemic. For a safe and healthy future for all, endorse the Climate-Safe California Platform to implement scalable solutions that can reverse the climate crisis.


Read more: https://www.usatoday.com/story/news/factcheck/2020/05/11/fact-check-coronavirus-pandemic-isnt-slowing-climate-change/3090790001/

The world’s most profitable hedge fund is now a climate radical

By Edward Robinson and Nishant Kumar, Bloomberg


Highlights:

British billionaire Chris Hohn of  TCI Fund Management is pushing companies to provide transparency on their carbon emissions and ultimately reduce their environmental impact.

  • Hohn is threatening to call on investors to fire managers and oust board members who do not make promises to reduce their carbon footprint
  • Hohn is also asking banks to stop lending to companies that are ignoring the climate crisis
  • Though Hohn is making calls for emissions reductions and has recently donated to the climate movement Extinction Rebellion, TCI still has investments in industries utilizing fossil fuels
  • Hohn believes that the economic risks of climate change are enormous

The Climate Center’s Business of Clean Energy program helps businesses find ways to become more climate-friendly.


Read More: https://www.bloomberg.com/news/articles/2020-01-22/the-world-s-most-profitable-hedge-fund-is-now-a-climate-radical

New York awards offshore wind contracts in bid to reduce emissions

by Ivan Penn, NY Times

New York State, which last month passed an ambitious law to reduce the emissions that cause climate change, said Thursday that it had reached an agreement for two large offshore wind projects.

The wind projects, to be built off the coast of Long Island, represent a big step forward for a technology that has been slow to take off in the United States because of local opposition and high costs. Experts have said offshore turbines, which are used extensively in Northern Europe, hold great promise because the wind tends to be stronger and more consistent offshore than on land.

Read more: https://www.nytimes.com/2019/07/18/business/energy-environment/offshore-wind-farm-new-york.html